MINNEAPOLIS—October 31, 2011—FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today announced that Mutual of Omaha has successfully implemented FICO™ Blaze Advisor® business rules management system as the solution for security access to its portal resources, used by some 70,000 agents, brokers, customers and employees. In doing so, the insurer anticipates significant savings in system maintenance and an increase in ROI through the re-use of an existing system, avoiding a costly new installation.
Mutual of Omaha was looking for a flexible yet secure solution to control authorization and access to different applications and areas within its portal. The enterprise architecture and security team concluded that a rules-based environment would accelerate the implementation while reducing initial costs. Since FICO™ Blaze Advisor® was already being used successfully for other functions within the organization, it seemed a natural fit for this application.
The system is used by tens of thousands of people in 230 distinct roles, and authorization for each is controlled by the FICO system. A key benefit is that it allows business users to create and modify their own rules, without waiting for support or tying up IT resources. End users responsible for maintaining the rules and logic of the portal access were already familiar with FICO™ Blaze Advisor®, meaning changes could be made quickly and easily.
“We would have had to employ additional developers to support and maintain this system were it not for the ease of modification that FICO Blaze Advisor allows,” said George Royce, vice president of enterprise architecture and security at Mutual of Omaha. “That alone is an annual savings of at least $100,000, and a testament to the functionality and versatility of the solution.”
Details of the project and results achieved are outlined in a case study available at http://www.fico.com/en/Company/News/Pages/success-stories.aspx.
“Mutual of Omaha is a great example of a company that is modernizing its infrastructure and creating business agility through the use of world-class business rules management technology,” said Russ Schreiber, vice president of insurance at FICO. “This kind of agility has tremendous value, whether used for legacy modernization, business or infrastructure applications. That is why we are seeing increased demand for our business rules management system as insurers seek to become more competitive while reducing costs.”
FICO (NYSE:FICO) delivers superior predictive analytics solutions that drive smarter decisions. The company’s groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO’s innovative solutions include the FICO® Score — the standard measure of consumer credit risk in the United States — along with industry-leading solutions for managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world’s top banks, as well as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO also helps millions of individuals manage their personal credit health through www.myFICO.com. Learn more at www.fico.com. FICO: Make every decision count™.
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Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company’s Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO’s SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2010 and its last quarterly report on Form 10-Q for the period ended June 30, 2011. If any of these risks or uncertainties materializes, FICO’s results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
FICO, Blaze Advisor and “Make every decision count” are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
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